STOCKHOLM - October 20, 2014. Clanotech AB announced that its anti-fibrotic and anti-angiogenic candidate drug CLT-28643 received orphan drug designation by the European Medicines Agency (EMA) for prevention of scarring post glaucoma filtration surgery. Karolinska Development has an 80 percent ownership in Clanotech.
Clanotech’s lead substance, an a5ß1-integrin antagonist, has anti-angiogenic, anti-fibrotic and anti-inflammatory properties that are expected to benefit the wound healing processes following glaucoma surgery. The orphan drug designation will significantly shorten a future market approval process and reinforce market exclusivity for a launched product. “We’re delighted by the positive response from the EMA, which underpins the great need for products that can improve the outcome of glaucoma surgery“, said Patrizia Caldirola, CEO, Clanotech.
“Therapies with potential for use in specialized care and orphan diseases are at the core of Karolinska Development’s investment strategy. The medical need for a safe and specific anti-fibrotic therapy in glaucoma surgery is substantial and the orphan drug designation will add significant value to this exciting pharmaceutical project”, said Bruno Lucidi, CEO, Karolinska Development.
Note: Karolinska Development’s ownership of 80% includes indirect ownership through KDev Investments AB.
For further information, please contact:
Patrizia Caldirola, CEO, Clanotech AB
Phone: +46 70 374 7179, e-mail: patrizia.caldirola@clanotech.com
Bruno Lucidi, CEO, Karolinska Development AB
Phone: +46 72 245 9892, e-mail: bruno.lucidi@karolinskadevelopment.com
About Clanotech AB
Clanotech is a Swedish biotech company active in ophthalmology. Clanotech development strategy spans from niche indications with orphan drug opportunities such as developing safe and target specific anti-scarring treatment in glaucoma surgery techniques to therapeutic areas with high commercial potential as wet Age Related Macular Degeneration. Clanotech’s lead candidate is an inhibitor of the a5ß1-integrin receptor which is present in fibroblast and on vascular endothelial cells. a5ß1-integrin is strongly up-regulated in fibroblast when switching to the fibrotic state and in scars after glaucoma surgery.
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, investors and society by developing innovations from world class science into differentiated products that can be partnered. The business model is to: SELECT the most commercially attractive medical innovations that can potentially satisfy unmet medical needs; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. Today, the portfolio consists of 33 projects, of which 16 are in clinical development. For more information, please visit www.karolinskadevelopment.com.
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